$ETH The structure is neutral to bearish. Price is tracking near the upper Bollinger Band at 2074.2, around 2075, while the middle band at 2059.0 continues to move lower. The rebound has not yet changed the downward structure. The cost basis is concentrated around the POC and support at 2063.6, with 2208.9 as the main resistance above. Long liquidation fuel within the bands, at about $200 million, is clearly greater than the roughly $84 million in short liquidations above; a break below support could trigger a downward cascade. The current price is hugging the upper band and is near a key structural level, so enter a direct market short at a reference price of 2074.9. Place the stop-loss above the upper Bollinger Band at 2076.3; holding above this level would mean the rebound has exceeded expectations, at which point exit and accept the loss. Target the swing low at 2048.0, for a risk-reward ratio of about 19.4. The main risk is that aggressive trading has seen net inflows of about $12.59 million and $10.71 million over 1-hour and 4-hour periods, respectively, and short-term buying is still returning. Price could spike first, hit the stop-loss, and then pull back. #ETH #ETH Trend Analysis